Summary Box: Softbank reports surge in profit

Summary Box: Softbank reports surge in annual profit on iPhone 4S popularity

Associated Press
Summary Box: Softbank reports surge in profit
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Softbank Corp. President Masayoshi Son speaks during a press conference in Tokyo Thursday, April 26, 2012. Annual profit at Japanese mobile carrier Softbank surged 65 percent, driven by strong demand for Apple's iPhone 4S. Son, often praised as Japan's Steve Jobs, said the three must-haves of the 20th Century - the washing machine, fridge and TV - had changed in the 21st century to the iPhone, iPad and cloud computing services. (AP Photo/Koji Sasahara)

THE RESULTS: Annual profit at Japanese mobile carrier Softbank Corp. surged 65 percent. Annual sales jumped nearly 7 percent.

THE DRIVER: Strong demand for Apple's iPhone 4S, which launched in October. The fortunes of Softbank, once the underdog in Japan's telecom industry, have improved after it started selling the iPhone in 2008.

ONE-TIME EXCLUSIVITY: Initially, Softbank was the only Japanese phone company to offer the iPhone. Rival KDDI Corp. began to sell the iPhone late last year. But Softbank still remains the sole vendor of the iPad in Japan.

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